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News from Pakistan (23-12-2002)

  • Investments in National Saving Schemes ballooned by 67.45 percent in the four months up to October 31, 2002, on expectations that the government would cut the rates on these schemes following the cut in Pakistan Investment Bonds rates.

  • The spokesman for the Board of Investment said the arrangements to set up a modern trade centre duly equipped with the latest business technologies at Singapore are in the final stage and the venture named as "Pakistan Trade Centre Singapore" shall go into full operation with the dawn of the New Year.

  • Bank al-Falah, Limited and four companies' issue of Terms Finance Certificates worth Rs. 1.789 billion will help in increasing the size of debt market, registering continued growth in the last couple of years.

  • Foreign Minister said Pakistan-Afghanistan ties were showing growing level of confidence and hoped increased interaction between the two governments will bring them closer.

  • Federal Commerce Minister said that Pakistan and Iran would sign a bilateral trade agreement during the Iranian President's visit to Pakistan.

  • Minister for Trade and Commerce said that the present trade policies would change after taking all the chambers of commerce and industries, federations and traders associations into confidence.

  • Mobilink has signed a Memorandum of Understanding with United Bank Limited to obtain structured trade facilities worth $ 14.3 million from the bank.

  • In its first meeting after the elections, the Central Development Working party (CDWP) is expected to approve as many as 23 projects of Rs.13.92 billion on Monday.

  • The senior officials of the US Administration have promised to make the registration of Pakistan nationals "as easy and convenient as possible."

(Iqbal Ahmad Khan)
Director (PA/IF)
23-12-2002

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